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Apr 22, 2013
04/13
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greece has made a lot of progress in reducing deficit as well. therefore, we are regaining confidence. and if you look at market, markets are very, have regained a lot of confidence. and bonds for all member states, including italy, spain, all the concerned countries, are below they used to be before the crisis. therefore, markets have regained what we are doing now is building the next step, building the banking union. we have already agreed on mechanisms because we need a strong european supervision of banks because our banking works not only in the frame of one member state, but all of us. we need a european mechanism and a european supervision. we haveimemented, we will implement a supervise mechanism in the coming weekings. it -- weeks. it has been already decided. we will build, we have a european regulation on deposit insurance. we have a european regulation on our -- it is not yet decided, but it's drafted, and it is on the way on regulation that was -- [inaudible] mechanism as well. and, therefore, we are working step by step in the dire
greece has made a lot of progress in reducing deficit as well. therefore, we are regaining confidence. and if you look at market, markets are very, have regained a lot of confidence. and bonds for all member states, including italy, spain, all the concerned countries, are below they used to be before the crisis. therefore, markets have regained what we are doing now is building the next step, building the banking union. we have already agreed on mechanisms because we need a strong european...
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Apr 24, 2013
04/13
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yesterday biggest show this government has reduced the deficit by a third. does the prime minister agree -- [inaudible] would risk of squandering this program? >> my honorable friend is absent the right. these are very tough times that we are operating in but we have got the deficit down by a third. to our 1.25 million extra private sector jobs and we've seen a record creation of new businesses in our country. the differences between the two parties is we believe in cutting our deficit. it is their official policy to put it up. if they did that it would be higher interest rates, more businesses going bust, harder times for homeowners. that is what labour offers. >> the government is right to prioritize the combating of sexual violence and conflicts under its chairmanship of the g8 but the prime minister would have more credibility on the subject if he didn't accept hundreds of thousands of pounds and private dinners at downing street for mr. dean taylor. mr. taylor's company has admitted dealings with a notorious serb war criminal who is indicted for and i q
yesterday biggest show this government has reduced the deficit by a third. does the prime minister agree -- [inaudible] would risk of squandering this program? >> my honorable friend is absent the right. these are very tough times that we are operating in but we have got the deficit down by a third. to our 1.25 million extra private sector jobs and we've seen a record creation of new businesses in our country. the differences between the two parties is we believe in cutting our deficit....
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Apr 20, 2013
04/13
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have been deficits for four years. but sometimes you need some, you get it, other times, in germany, to end with one poll that is quite interesting. you may know, you may have known that of course there's a lot of concern in public opinion, is it not the wrong decision to care for the european monetary, if you look at -- be have the highest polls we ever had, and shoo we stay in the euro or not. 70%, which is high, said, yes, we have to stay. we have to solve the problem. and it's a good basic. thank you very much. >> thank you very much. [applause] >> let me just start the questions by asking you, we have seen major initiatives in both the united states and europe to regulate banks. is more coordination needed between the two of us and if so, how would you recommend that we could achieve that. >> obviously more coordinate needed, but we try to find solutions in europe. we know that u.s. has in some way gone ahead, but we will work -- we discuss -- it's not most problematic issue actually, to have common understanding
have been deficits for four years. but sometimes you need some, you get it, other times, in germany, to end with one poll that is quite interesting. you may know, you may have known that of course there's a lot of concern in public opinion, is it not the wrong decision to care for the european monetary, if you look at -- be have the highest polls we ever had, and shoo we stay in the euro or not. 70%, which is high, said, yes, we have to stay. we have to solve the problem. and it's a good basic....
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Apr 20, 2013
04/13
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now, some people can't understand what the trade deficit is, some will, but the trade deficit is the difference between what america exports and what we import so what it really means to say that we're $500 billion out of balance for the rest of the world is that we're consuming more than we produce to the tune of $500 billion a year. the reason that's true is the only place you can get goods to consume is you either make them yourself or import them from someplace else. this is another way in which the united states is living beyond its means. now, those remarks were to try to get you interested. people don't usually pay money to hear me speak. i assume you are all at least somewhat interested. if you look at free trade, once you understand there's an issue here with the trade situation, if any of you got a wallet on you, pull out a ten dollar bill. the guy on the ten dollar bill etary of the treasury, ca the intellectual architect of american capitalism, one of the founding father, and an envowed protectionist as was abraham lincoln, as was virtually every president prior to world
now, some people can't understand what the trade deficit is, some will, but the trade deficit is the difference between what america exports and what we import so what it really means to say that we're $500 billion out of balance for the rest of the world is that we're consuming more than we produce to the tune of $500 billion a year. the reason that's true is the only place you can get goods to consume is you either make them yourself or import them from someplace else. this is another way in...
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Apr 21, 2013
04/13
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she was not in any way on the same level as president reagan when it came to deficits will take care of themselves if we cut taxes and growth will come in. idea that cutting taxes raises revenues and you do not have to worry about deficits, that was not what lady thatcher was at all. she was the grant them -- --ntham housewufe adding up she was much more cautious. helen, republican color. caller: i am from manchester, england. i frequently visit my relatives in england. you know, in the late 1970s early 1980s i was adding there for a little while and i would talk to my cousins. they really hated margaret thatcher because they felt that she was a direct threat to their own livelihood. they were very pro-union, very labour party and they believe thatcher was going to take away their jobs, their homes, their education. and i was there two years ago. speaking to the same cousins, they still hate thatcher. they blame her for all of england's economic woes, blame her for the breakup of the uk that is pending with scotland, if itey really feel that was not for the government, for socialism,
she was not in any way on the same level as president reagan when it came to deficits will take care of themselves if we cut taxes and growth will come in. idea that cutting taxes raises revenues and you do not have to worry about deficits, that was not what lady thatcher was at all. she was the grant them -- --ntham housewufe adding up she was much more cautious. helen, republican color. caller: i am from manchester, england. i frequently visit my relatives in england. you know, in the late...
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the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum climate at all times and the deficit will be lower as a result of that if you have the appropriate tax policy let me let me jump in for a second because i just after saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in these countries you have different lobbying groups and different ideologies off competing to get their ideology and their policies through they all think they have the best policy the reason i bring this up is because here in the u.k. margaret thatcher has died margaret thatcher there's a big margaret that there's a funeral there's a huge outpouring of emotion about margaret thatcher back in the seventy's when she assumed power she too had all these competing voices telling her what to do she took a survey very strong position for better or worse she took action so my question to you as a long term observ
the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum climate at all times and the deficit will be lower as a result of that if you have the appropriate tax policy let me let me jump in for a second because i just after saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in these...
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Apr 22, 2013
04/13
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spanish deficit was up to 10.6% of gdp. stephane joins us now live from madrid. >> there is no surprise. 10.6% of gdp. there's a reason behind it. it's the cost of bailing out the spanish banking sector. eurostadt did not give the details about the calculation, but without the cost of bailing out the banking sector, the deficit was 6.9% of gdp, which is higher than the 3% target set by the government, but of course that would be much lower than the 10%, for instance, deficit that we've seen in greece last year as a result, of course, the spanish debt is rising. it's now 84.2% of the spanish gdp. that's a sharp increase if you compare to the level before the prices in spain. and there's a paradox in that announcement. yes, we've seen some positive reaction on the bond market. the other part is that it will actually help the government to ask for more time to reduce its public deficit below 3% of ggdp. the new target will be 2016, two years later than expected, and that will give the government a bit of precome, a bit of marg
spanish deficit was up to 10.6% of gdp. stephane joins us now live from madrid. >> there is no surprise. 10.6% of gdp. there's a reason behind it. it's the cost of bailing out the spanish banking sector. eurostadt did not give the details about the calculation, but without the cost of bailing out the banking sector, the deficit was 6.9% of gdp, which is higher than the 3% target set by the government, but of course that would be much lower than the 10%, for instance, deficit that we've...
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Apr 23, 2013
04/13
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so the country will have a bit more time to reduce its public deficit. then it will be able to implement some growth incentive measures. that's the reason why the stock market is doing well and that's the reason why we've seen yesterday the bond market failing to the lowest level in 2 1/2 years, despite the report from eurostadt saying spain last year had the highest deficit in europe and the latest announcement from the bank of spain in terms of economic growth. >> stephane, by the way, if you could order pizza through your television -- i've seen that television, it's pretty big -- would you? >> sorry, if i could order pizza? >> yes. through your television. would you be interested? >> well, i have reached an age i can't afford -- i can't eat pizza. but, you know, one piece brings probably two hours, three hours at the gym. >> not worth it. that might tie in nicely with what's going on in our next story. stephane, thank you very much. pizza and video games may now be going hand in hand. in fact, it might be the perfect food to chow down on while you're
so the country will have a bit more time to reduce its public deficit. then it will be able to implement some growth incentive measures. that's the reason why the stock market is doing well and that's the reason why we've seen yesterday the bond market failing to the lowest level in 2 1/2 years, despite the report from eurostadt saying spain last year had the highest deficit in europe and the latest announcement from the bank of spain in terms of economic growth. >> stephane, by the way,...
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an hour and a half year on r t so stick with us well as european countries wrestle with their budget deficits and slash military spending it's becoming tougher for nato to stay fit physically afloat the alliance top officers slammed the e.u. allies for quote getting a free ride with us left to bear the burden of the defense finances crisis hit nato states have already chopped more than forty five billion dollars from the alliance's treasury is the equivalent of germany's entire military budget the number of european troops in the u.s. led bloc also has dropped from two and a half million in two thousand to one point eight six million now and while the u.s. is also trimming its military cos its share of the budget is still seventy five percent of the total as artie's tesser so he reports from brussels concerns over nato as future could be growing. the nato secretary general anders fogh rasmussen had actually come out and warned its partners against the danger of defense spending cuts as we've already seen especially from its european partners this opinion was also echoed by the former u.s. def
an hour and a half year on r t so stick with us well as european countries wrestle with their budget deficits and slash military spending it's becoming tougher for nato to stay fit physically afloat the alliance top officers slammed the e.u. allies for quote getting a free ride with us left to bear the burden of the defense finances crisis hit nato states have already chopped more than forty five billion dollars from the alliance's treasury is the equivalent of germany's entire military budget...
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Apr 16, 2013
04/13
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doesn't help us with our trade deficit with china. doesn't help us export more grain to russia. $168 billion we ask american taxpayers to dig into their pocket and pay for the pleasure of paying nair income taxes. more -- their income taxes. more and more americans, mr. speaker, find they can't do their own taxes, that they have to go to a professional tax preparer. i don't mind paying my taxes. i think i'm getting my money's worth. america is a great country. but to help somebody help me pay the taxes makes me angry and it's wrong. it's wrong. you know, i look at what's happened in those former soviet block countries, mr. speaker. you know, those former soviet block countries have all moved to flat taxes? what they found is when they have high tax rates and very difficult to comply with, folks just didn't pay their taxes at all. but when they lowered that rate, made it flat, applied it across a broad base, folks began to voluntarily emit -- remit their taxes. it's not rocket science. it's what we've seen in example after example afte
doesn't help us with our trade deficit with china. doesn't help us export more grain to russia. $168 billion we ask american taxpayers to dig into their pocket and pay for the pleasure of paying nair income taxes. more -- their income taxes. more and more americans, mr. speaker, find they can't do their own taxes, that they have to go to a professional tax preparer. i don't mind paying my taxes. i think i'm getting my money's worth. america is a great country. but to help somebody help me pay...
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Apr 23, 2013
04/13
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american taxpayers as he can possibly create in order to justify higher taxes, more spending, more deficits. everyone knows what this play is all about. >> go ahead, steve. fight back. >> well, congressman, wasn't john boehner in the room? wasn't mitch mcconnell present for this sequester? >> absolutely. >> so why are you saying it's the president's deal? >> it was the president's idea. and he just signed a bill -- >> have you guys -- >> to lock in these sequester levels. >> by the way, that's not true, steve. hold on a second. all these guys on the appropriations committee in both the senate and the house have offered to liberalize rules for sub accounts. by the way, the administration has a lot of leeway on sub accounts. guy benson, i come to you again. okay, i'm in favor of the darn sequester. it's not perfect. but some place, sometime, you've got to cut spending and i would rather do that than raise taxes. >> i agree with that, but do it in a slightly smarter way. >> that's what i'm asking. >> they passed laws that would replace sequester. the president, his idea. he signed it into law.
american taxpayers as he can possibly create in order to justify higher taxes, more spending, more deficits. everyone knows what this play is all about. >> go ahead, steve. fight back. >> well, congressman, wasn't john boehner in the room? wasn't mitch mcconnell present for this sequester? >> absolutely. >> so why are you saying it's the president's deal? >> it was the president's idea. and he just signed a bill -- >> have you guys -- >> to lock in...
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Apr 17, 2013
04/13
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low yields make pension deficits worse and make corporates less likely to invest. they backed themselves into a corner here. >> what's your take? >> i do think that qe has helped the economy over the past four years. our own view is you get diminishing returns to each slug of qe as you go along. we suspect in due course that we'll get another expansion of asset purchases which at the margin may help and there may be psychological boost to markets but the other things to watch out for are the success or otherwise of bank of england's funding for lending scheme which we're relatively hopeful will help to expand the supply of mortgage credit. >> it doesn't seem like it's done much frankly. >> it's a slow burn. the last couple of months of data have been disappointing but through the back end of the second half of last year what we saw was a steady increase in mortgage approvals and that's helpful. the other thing to watch out for is what's happening to the small business sector. we have been calling for some sort of government if not bank of england action to help cha
low yields make pension deficits worse and make corporates less likely to invest. they backed themselves into a corner here. >> what's your take? >> i do think that qe has helped the economy over the past four years. our own view is you get diminishing returns to each slug of qe as you go along. we suspect in due course that we'll get another expansion of asset purchases which at the margin may help and there may be psychological boost to markets but the other things to watch out...
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Apr 17, 2013
04/13
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raisingle sort of taxes, revenues, don't worry about deficits. she was the housewife adding up the public book in her handbook -- and her handbags. she was much more cautious than reagan and economic policies. host: republican caller. caller: i'm from manchester, england. i grew up in los angeles. but i frequently visit my relatives in england during -- in englad. -- in england. in the early 1980's him i was talking to my cousins, and they really hated margaret thatcher because they thought she was a direct threat to their own livelihood. they were prounion, labour party, and they believed thatcher was going to take away their jobs, their home, their education. , and there two years ago the same cousins still hate thatcher. they blame her for all of england's economic woes, the breakup of the uk. that if it feel wasn't for the government, for socialism, they would have nothing. these people are physicians and actuaries, they are well educated. came from working classes in manchester. they cannot seem to pull away from the belief that if it wasn't
raisingle sort of taxes, revenues, don't worry about deficits. she was the housewife adding up the public book in her handbook -- and her handbags. she was much more cautious than reagan and economic policies. host: republican caller. caller: i'm from manchester, england. i grew up in los angeles. but i frequently visit my relatives in england during -- in englad. -- in england. in the early 1980's him i was talking to my cousins, and they really hated margaret thatcher because they thought she...